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are president obama and speaker boehner about to give birth to a two-party fiscal cliff deal? how both sides are trying to meet in the sensible center. >>> and history making newlyweds. robbie perry and paris prince are the first male couple to be celebrated four their wedding in "jet" magazine's famous love section. the men join me on their history making moment and breaking stereotypes. can your moisturizer do that? [ female announcer ] dermatologist recommended aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. to the best vacation sp(all) the gulf! [ male announcer ] break from the holiday stress. it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna lo
are president obama and speaker boehner about to give birth to a two-party fiscal cliff deal? how both sides are trying to meet in the sensible center. >>> and history making newlyweds. robbie perry and paris prince are the first male couple to be celebrated four their wedding in "jet" magazine's famous love section. the men join me on their history making moment and breaking stereotypes. can your moisturizer do that? [ female announcer ] dermatologist recommended aveeno has...
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Dec 13, 2012
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the corporate taxes may be part of the fiscal cliff talks. here is dan mitchell, senior fellow at the cato institute. google stashed $10 million in bermuda, hp has almost all of its cash offshore and apple said to shareholders, two-thirds of its $121 billion of cash is held outside the united states. now why is that? is it just because they hate america? >> two things to understand. number one, everything they do is completely legal. it's foreign source income that is being taxed in the countries where it's being earned. but, number, two, the u.s. has the highest corporate tax rate in the developed world. these companies if they bring that money back to the united states will be double taxed on top of what they paid oversea, yes, with some credit so maybe it doesn't get too much above 35% but we are shooting ourselves in the foot with very bad corporate tax policy. >> will president obama clahang that with this talk of corporate tax reform? >> i don't want to burst your bubble. i'm not sure the administration is serious about this. we've seen
the corporate taxes may be part of the fiscal cliff talks. here is dan mitchell, senior fellow at the cato institute. google stashed $10 million in bermuda, hp has almost all of its cash offshore and apple said to shareholders, two-thirds of its $121 billion of cash is held outside the united states. now why is that? is it just because they hate america? >> two things to understand. number one, everything they do is completely legal. it's foreign source income that is being taxed in the...
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Dec 7, 2012
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it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to make this about ed. the fact remains that the debt levels we have in this country in effect put a cap on growth right now. >> sure, sure, sure. i think that economists have been saying for years -- i have said repeatedly, economists on both sides of the aisle have said repeatedly what we need is a long-term plan for deficit reduction that begins to take effect when the economy is closer to its capacity. right now it's at least 6% below its capacity. the unemployment rate, 7.7, it should be like 5.7 at capacity. we should no
it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to...
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Dec 13, 2012
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. >>> up next, tick tock on the fiscal cliff. president obama and house speaker john boehner meeting at the white house just minutes from now. my thoughts on the talks, the fed, and that cliff hanger, right after this. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they ji
. >>> up next, tick tock on the fiscal cliff. president obama and house speaker john boehner meeting at the white house just minutes from now. my thoughts on the talks, the fed, and that cliff hanger, right after this. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and...
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Dec 7, 2012
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. >> legislators say they need to see how fiscal cliff negotiations develop before making any budget plans. between 50,000 to 90,000 jobs could be lost if across-the- board spending cuts and tax increases are not averted. mike miller says that it will help determine what major finance initiatives will need to be considered for the state's upcoming legislation. president barack obama says approach in the fiscal cliff will add to holiday stress for american families. >> the closer it gets to the brink, the more stressed they will be. businesses are making decisions right now about investment and hiring. they don't have confidence that we can get this thing done, they will start pulling back and we could have a lousy time in our haqqani for the next several months. >> the president made the remarks while visiting with the virginia family to talk about the budget crisis. >> for now, the stalled negotiations cannot seem to be affecting local holiday shopping and events in and around baltimore. >> harbour east is one of the air is a special -- with special events going on throughout the ci
. >> legislators say they need to see how fiscal cliff negotiations develop before making any budget plans. between 50,000 to 90,000 jobs could be lost if across-the- board spending cuts and tax increases are not averted. mike miller says that it will help determine what major finance initiatives will need to be considered for the state's upcoming legislation. president barack obama says approach in the fiscal cliff will add to holiday stress for american families. >> the closer it...
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Dec 12, 2012
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the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%. the same for the xetera dax and idex. we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want
the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%. the same for the xetera dax and idex. we saw the news of monti's resignation on monday. they've recovered from then. wanted to show the...
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Dec 13, 2012
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number one first is the fiscal cliff. and i think the market itself is expecting, as josh had said, that there will be some form of a grand compromise coming. that is a little bit concerning because i think everyone really is treating it with not so much cautiousness. and the vulnerability to the down side, is pretty significant if we fail to compromise. on ben bernanke and his ability to once again give the market what it was supposed to want -- >> and we'll talk more about that later. >> -- and we'll get into that, but let me say this and i'll walk you through it later. i think the message of the federal reserve since the beginning of this year should not be listened to by investors. >> steph, so how do you try and navigate the stock market, again, when we're getting these comments out of washington, and as our own eamon javers reports, perhaps things have taken a small step back in negotiations? >> i think it's interesting we're only down 29 points on the dow. that's number one. and this is just what negotiations are,
number one first is the fiscal cliff. and i think the market itself is expecting, as josh had said, that there will be some form of a grand compromise coming. that is a little bit concerning because i think everyone really is treating it with not so much cautiousness. and the vulnerability to the down side, is pretty significant if we fail to compromise. on ben bernanke and his ability to once again give the market what it was supposed to want -- >> and we'll talk more about that later....
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Dec 5, 2012
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the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is goi
the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown...
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Dec 6, 2012
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who do you trust to handle the fiscal cliff? 48% believe president obama and republicans will reach an agreement but 43% say they won't. meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until we did it last year, i will not play that game. >> we should say that the president and house speaker john boehner did speak by phone yesterday. that was the first time in a week. no one is saying what the conversation was about. shortly after that call treasury secretary tim geithner went on cnbc and said the white house is ready to go off the cliff. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on
who do you trust to handle the fiscal cliff? 48% believe president obama and republicans will reach an agreement but 43% say they won't. meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until...
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tell me where you stand on fiscal cliff. what's going to happen here, congresswoman? >> well, i am hoping because i'm the kind of person that always worked across the aisle. in fact on my foreign-ones committee, kay granger and i have been called the odd couple, we work well together. i've spoken to hal rodgers, chairman of the appropriations committee, i'm optimist being that we can sit at the table and get these things done. comprehensive tax reform is going to take longer, but we can make sure that the middle class keeps its tax cuts. we can make sure we target some waste. you can have across-the-board cuts. we have to have a very clear plan to cut back on certain areas. we can't cut back on programs that benefit the working and the middle class. we have to make sure our kids are educated. we have to make sure they have health care. but there are places in the bill that we can cut, and we don't want to do it with a sledge hammer. we're wise enough to be able to use a scalpel. so, again, i hope that we can sit together, work something out and do it soon. frankly, th
tell me where you stand on fiscal cliff. what's going to happen here, congresswoman? >> well, i am hoping because i'm the kind of person that always worked across the aisle. in fact on my foreign-ones committee, kay granger and i have been called the odd couple, we work well together. i've spoken to hal rodgers, chairman of the appropriations committee, i'm optimist being that we can sit at the table and get these things done. comprehensive tax reform is going to take longer, but we can...
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>> on the fiscal cliff or the debt ceiling? >> on the debt ceiling. >> i was very interested by your reporting. that you took a really strong position there. i do think the white house has been transformed. both by the experience with the debt ceiling and with the election. i think if they want to stand their ground, i think they can actually do it. i think that that is, in fact, possible. can they? you know, we'll see. they seem a lot tougher now than they were last time around. don't you think? >> they sound very tough now. chrystia freeland of thomson, and author of "the plutocrats." >>> i promised you, red lobster, olive garden, timely for both, and i will deliver. that is ahead. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use alka-seltzer plus night cold & flu... [ coughs ] [ buzz! ] [
>> on the fiscal cliff or the debt ceiling? >> on the debt ceiling. >> i was very interested by your reporting. that you took a really strong position there. i do think the white house has been transformed. both by the experience with the debt ceiling and with the election. i think if they want to stand their ground, i think they can actually do it. i think that that is, in fact, possible. can they? you know, we'll see. they seem a lot tougher now than they were last time...
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the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically week and counting before you think the equity market really drops significantly? >> if we do get a deal done do, we just maintain the 2% that we're stuck in with the high unemployment and not go down? or does it actually allow us to start growing again? is anybody talking growth? >> we're talking growth. >> is it possible to ever get back to that in this environment? >> it is. you have a lot of problems with the piece. >> do you briyou believe if you rote deficit -- two different ways. you either keep the government that you
the fiscal cliff hits. the arguments i just pa about the withholding tables and cutting spending, are not generally talked about. a lot of people deny they can be done. we're confident they can. so the question then becomes what's the impact, where is the impact. and the impact is equity markets end of next week will say these guys aren't going to get it done, we won't have a deal january 1, everything falls apart, that's assuming of course we all get past december 21st. >> so basically...
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cliff, then the fiscal abyss. the fed keeps us sort of above stall speed and then we do some structural things, would that work? >> that's -- joe, that's exactly what we're all hoping for. we hope that republicans and democrats, the congress, the administration, can enact bold structural reforms to make the economy more growth oriented. and you know, live within our means. manage our budgets. if we can do that, then the fed is building a bridge to the congress. >> you talking about the congress? >> pardon me? >> live within our means and manage our budgets? are you talking about the congress? >> well, you know, we've done it in the past. we can all be very bearish on our political system. but our political system over the long-term works. republicans and democrats have come together before, have made tough choices. if we can do it again, then bernanke's actions are not going to be for naught. they're going to be buying time for leaders in washington to take over. but if leaders in washington don't take over, then
cliff, then the fiscal abyss. the fed keeps us sort of above stall speed and then we do some structural things, would that work? >> that's -- joe, that's exactly what we're all hoping for. we hope that republicans and democrats, the congress, the administration, can enact bold structural reforms to make the economy more growth oriented. and you know, live within our means. manage our budgets. if we can do that, then the fed is building a bridge to the congress. >> you talking about...
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the fiscal cliff dominated the sunday talk shows. senator dick durbin on "meet the press" yesterday saying no deal on the debt without a tax hike on the wealthy. >> i can tell you i don't want to do it, the president doesn't want to do it but we need to solve the problem. we cannot allow their reckless position to drive this economy into another recession. >> and senator bob corker argues it might be better to agree with what the president wants to do now on taxes, and then fight later on spending. >> if we were to pass, for instance, raising the top two rates and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> joining us now house majority whip kevin mccarthy. not everybody, i don't know, depends on where you're sitting i guess, congressman, "the wall street journal" says republicans shouldn't be negotiating with themselves. they ought to be talking to spoorker boehner. is it helpful? >> is it helpful what the others are saying? look, is raising the rates going to solve the pro
the fiscal cliff dominated the sunday talk shows. senator dick durbin on "meet the press" yesterday saying no deal on the debt without a tax hike on the wealthy. >> i can tell you i don't want to do it, the president doesn't want to do it but we need to solve the problem. we cannot allow their reckless position to drive this economy into another recession. >> and senator bob corker argues it might be better to agree with what the president wants to do now on taxes, and...
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optimism on the fiscal cliff being resolved. i'll tell you this, somebody's very wrong about 2013, because there's two camps that are quite at odds with each other right now. the first one i've been telling you about, it's been quat bearish on this. that the fiscal cliff will be a headwind for stocks. that this represents the start of a new american austerity, that higher taxes, lower spending is not bullish for the stock market in 2013. this group has been arguing, i've been saying this for two weeks, what this group wants, you buy into the fiscal cliff and then sell immediately after for some unspecified period. on the other side, and i think the majority is moderately bullish on 2013, most are clearing up policy issues in washington and europe, will help the stock market overall. jpmorgan, thomas lee, the s&p 500 he thinks is going to be up 13% in 2013. he set a price target of 1580 or so. that would be the old historic high. >> carl has the press release from berkshire hathaway now. >> december 12th, purchased 9,200 of the c
optimism on the fiscal cliff being resolved. i'll tell you this, somebody's very wrong about 2013, because there's two camps that are quite at odds with each other right now. the first one i've been telling you about, it's been quat bearish on this. that the fiscal cliff will be a headwind for stocks. that this represents the start of a new american austerity, that higher taxes, lower spending is not bullish for the stock market in 2013. this group has been arguing, i've been saying this for...
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>> because if you think the fiscal cliff is fun, you'll love the debt ceiling. the economic havoc that is wreaked by the fiscal cliff is a very gradual thing, as you and have i discussed. going over it is a mistake. we shouldn't do it. but at least initially, if we can reverse it, it won't be so bad. if you default on the nation's debt on our treasury bills, that's not a fiscal slope. that's a cataclysmic economic event. not only are you stiffing creditors who believe they have invested in the safest debt in the universe, you're actually threatening to have to raise our interest rates through the roof in order to service our debt, which means absolutely a long-term recession. it's really quite a fatal step. >> "the wall street journal's" reporting that the white house is willing to do corporate tax reform in their new proposal. what do you think than in what do you think that might mean? >> i think it's a neat idea. the white house is actually articulated a fairly detailed corporate tax idea in a white paper that didn't get enough attention a few years ago. and
>> because if you think the fiscal cliff is fun, you'll love the debt ceiling. the economic havoc that is wreaked by the fiscal cliff is a very gradual thing, as you and have i discussed. going over it is a mistake. we shouldn't do it. but at least initially, if we can reverse it, it won't be so bad. if you default on the nation's debt on our treasury bills, that's not a fiscal slope. that's a cataclysmic economic event. not only are you stiffing creditors who believe they have invested...
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cliff. both sides say they're keeping the lines of communications open but no word of a break through. >> president obama and house speaker john boehner were behind closed doors trying to break the stalemate that threatens to take the country over the fiscal cliff in just over three weeks. one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. we don't have a lot of cards as it relates to the tax issue before you're in. i mean, we have one house that's it. the presidency and the senate in the democrat's hand. >> since we agree with the democrats 98% of the people and 08% of the bush tax cuts i would get that off the table now. >> democrats insist taxes are going up on the rich no matter what. >> if you don't increase tax rates on the highest 2% of income owners you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want big spending
cliff. both sides say they're keeping the lines of communications open but no word of a break through. >> president obama and house speaker john boehner were behind closed doors trying to break the stalemate that threatens to take the country over the fiscal cliff in just over three weeks. one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. we don't have...
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the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent itself. >> susie: that and more tonight on nbr! >> tom: an agreement to ease the fiscal cliff may not be wrapped up and waiting under your tree for christmas. senate majority leader harry reid said today it would be hard to get an agreement finished by the holiday, blaming the delay on republicans. not surprisingly, republicans say the president hasn't gotten serious about the talks. plenty of outside groups are offering up suggestions. and as darren gersh reports, they include warren buffett and some other big names in finance. >> reporter: there was some public movement in the fiscal cliff s
the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent...
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some experts think the overhang of the fiscal cliff will likely dampen investor enthusiasm. erika miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowest in 20 months. on wall street, the dow gained 78, the nasdaq rose 44, the s& up nine. >> susie: our next guest says the fed's stimulus policies have been good for the u.s. economy and the markets. he's mike holland, chairman of his money management firm, holland and company. >> susie: mike, you heard erica's report. which do you think is more important for investors, fed policy action tor the fiscal cliff talks? >> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling
some experts think the overhang of the fiscal cliff will likely dampen investor enthusiasm. erika miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowest in 20 months. on wall street, the dow gained 78, the...
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. >> let's take a break and talk about the fiscal cliff. talking about ridiculous situations. i want to get your latest on that and the latest on the deadly prank apology. it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. the next big thing? we're going to wake the world up. ♪ and watch, with eyes wide, as it gets to work. ♪ cisco. tomorrow starts here. >>> if we had any idea that something like this could have been even possible to happen, you know, we couldn't see this happening. it was meant to be a prank call. >> it's nothing more than a tragic turn of events that no one could have predicted. and you know, for the part we played in it, we're obviously -- we're incredibly sorry. >>
. >> let's take a break and talk about the fiscal cliff. talking about ridiculous situations. i want to get your latest on that and the latest on the deadly prank apology. it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will...
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fiscal cliff still hanging over us. markets, at least, are telling us that we think washington will get its act together, avert the fiscal cliff and like what they see from the jobs report this morning. >> my goodness. that's optimism there. can you talk to me a little more about this job market shrinking and that maybe why the unemployment rate dropped? >> two surveys that the government takes, household survey where they call thos thousands of people at home and ask, are you working? that's the number that gives us the unemployment rate. they also talked to thousands and thousands of companies and they say how many jobs do you have? how many jobs have you added? that's how you get that net job creation number up 146,000. when the government calls people up and they say i'm not working or i've dropped out of the labor market or whatever, you can see just how big the labor market is. we know that there are some, i think, 300,000 some people who have dropped out of the labor market. they've either dropped out. they could
fiscal cliff still hanging over us. markets, at least, are telling us that we think washington will get its act together, avert the fiscal cliff and like what they see from the jobs report this morning. >> my goodness. that's optimism there. can you talk to me a little more about this job market shrinking and that maybe why the unemployment rate dropped? >> two surveys that the government takes, household survey where they call thos thousands of people at home and ask, are you...
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it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest deduction. and, bob, you think -- for a lot of people that won't matter? >> you have the amt. so if you take excessive deductions, they just disappear. which is one of the things about all of this about limiting these deductions which is kind of silly because the amt does it in the aggregate. and of course the amt is grabbing more and more people and it's one of the things they want to reform, but if they reform it, they have to raise taxes someplace else. so it's confusing. >> but that's the worst part of it, a simpler tax code that someone could actually understand and now ho
it's coming under pressure as part of a broader fiscal cliff deal. there's an article on the front page of today's "wall street journal" that highlights other ways people are trying to take advantage of the certainty over the final few weeks of 2012. some of the examples they cite are people said to be accelerating large medical expenses for this year and selling appreciated stock in some cases even prepaying their mortgages so they can make sure they get the mortgage interest...
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but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of fame. >> yes, thank you very much. kind of proud, i dedicated by admission to mark haines who put me on tv. when david and joe would do "squawk box," he put me on tv. and mark was inducted into the hall of fame last year, because he said there's room for like guys that were bald and fat. right then i was trading at 2.15. now it's a point lower. >> no free passes. >> well deserved, congratulationings from all of us. you're going to stick arounder for lululemon. >> speaking of which, coming up, the ceo of lululemon will talk to us about the holiday season. and apple, a slide back into u.s. territory. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby a
but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of fame. >> yes, thank you very much. kind of proud, i dedicated by admission to mark haines who put me on tv. when david and joe would do "squawk box," he put me...
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the markets will respond badly if we go over the fiscal cliff. foreign investors will respond badly if america goes over the fiscal cliff at the end of this year. there's a sense, i'm hearing, increasing pessimism among republicans that say we can't afford to have these kinds of talks, even the stalling process doesn't look good for the country. >> there's other incentives that are bringing both republicans, especially the white house, to the table with respect to the fiscal cliff. we did reporting on this. >> your bosom buddy. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's right, and they were willing to do that in 2
the markets will respond badly if we go over the fiscal cliff. foreign investors will respond badly if america goes over the fiscal cliff at the end of this year. there's a sense, i'm hearing, increasing pessimism among republicans that say we can't afford to have these kinds of talks, even the stalling process doesn't look good for the country. >> there's other incentives that are bringing both republicans, especially the white house, to the table with respect to the fiscal cliff. we did...
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on the other side of the fiscal cliff you do. it gives homeowners a tax break on unpaid mortgage debt and expires on december 31st unless congress acts. >> the average amount that homeowners are short in a short sale is $95,000. if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on average it would be between 20 to $25,000. the banks have an extra incentive to stel short and absorb the loss. under the national mortgage settlement act that went into effect earlier this year, the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures sell for $3700 less than homes via short sale. as we near the fiscal cliff you could expect short sales jump more as homeowners look it to aavoid gigt hit with tacks and bankss with foreclosed prormts. if we go over the cliff, the tax bill homeowners face with a
on the other side of the fiscal cliff you do. it gives homeowners a tax break on unpaid mortgage debt and expires on december 31st unless congress acts. >> the average amount that homeowners are short in a short sale is $95,000. if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on...
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investing, the economy and the looming fiscal cliff. jpmorgan chairman ceo jamie dimon. carlyle group cofounder david rubenstein and a lot more. and it all starts tomorrow at 6:00 a.m. eastern on "squawk box." [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk. happy monday. today in the "wall street journal" suggesting netflix could end up doomed with its success with children. netflix just for kids get more popular. companies like viacom get accurate. companies provide netflix with most of its content in a kids' focused section. the journal says at so
investing, the economy and the looming fiscal cliff. jpmorgan chairman ceo jamie dimon. carlyle group cofounder david rubenstein and a lot more. and it all starts tomorrow at 6:00 a.m. eastern on "squawk box." [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of...
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and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan managed to solve problems and get along. listen to what john mccain said about what we need here. >> it's time now to sit across the table from one another, rather than -- in the way they did with ronald reagan and the way you get things done in washington. >> the way they did with ronald reagan and get things done in washington. you sit together and figure it out. they were at a holiday party they didn't talk to each other. they're issuing sort of statements and rebuttals and saying i'm not going to budge. >> negotiation by press release. this is not how things get done in washington and part of
and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and partisans polarized this is a problem. >> i keep saying we need a presidential historian or hostage negotiator. somebody could say we've been at stalemates before, gotten over it, shut down the government in '96. tip o'neill and ronald reagan...
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>> the biggest risk is fiscal cliff. it is a weak fourth quarter. we could have a much better year if we choose to avert the fiscal cliff and move toward credible deficit reduction. if we don't, i think that's the real critical bet is will we get there or not? >> good to see you both. have a great weekend. thank you very much. >>> simon mentioned we're going to get exclusive reaction to today's job report from goldman sachs chief economist jan hatzius straight ahead. >> who better to sit down and talk with than whirlpool. >> announcer: the number is out. >> november nonfarm payrolls increased by 146,000 jobs. >> announcer: were you able to nail the number? if so, you may be the winner of this picture frame signed by the "squawk on the street" gang. find out if it was you later on "squawk on the street." if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build
>> the biggest risk is fiscal cliff. it is a weak fourth quarter. we could have a much better year if we choose to avert the fiscal cliff and move toward credible deficit reduction. if we don't, i think that's the real critical bet is will we get there or not? >> good to see you both. have a great weekend. thank you very much. >>> simon mentioned we're going to get exclusive reaction to today's job report from goldman sachs chief economist jan hatzius straight ahead....
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we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and barack obama are hashing out behind closed doors but more republicans are gravitating to the idea of compromising on a tax rate increase so long as they can get what they want for spending and entitlement cuts. listen. >> those rates are going up. we either act now to keep them from going up from as many people as possible or they will go up on everyone. that's a disaster. let's recognize reality, take care of as many people as we can. >> meanwhile, you're right. the president was in detroit where he continued his outside-inside game of running a campaign-style effort to jin up popular support for the fiscal cliff. because he was in michigan he took a whack at the proposed legislation -- the so-called right to work legislation. listen to the president. >> these so-called right
we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and barack obama are hashing out behind closed doors but more republicans are gravitating to the idea of compromising on a tax rate increase so long as they can get what they want for spending and entitlement cuts. listen. >> those rates are going...
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the winner, the fiscal cliff, 35%. what are people saying about the fiscal cliff? we have people write in, and i believe that's what we'll look at next. we'll look at the probability of a u.s. recession. that has come up. in part because of the fiscal cliff concerns. it was 19% back in march. a high of 36%. so we're halfway between the low and the high pretty much. this is a 13-month high for the probability of recession. now we want to show you what people are saying about the fiscal cliff, allowing the economy to go over the cliff would be extremely reckless, says donnelly. they're going out to try to help the unemployment rate. wall street doesn't believe it's going to happen. they do believe it will help lower mortgage rates and the unemployment rate and not a lot of help expected for the stock market. melissa? >> steve, thanks for that. that's interesting stuff there. >> nothing like getting your blood pressure up. liesman testing you live on tv. >> what do you think? wrong, wrong. brought back bad memories, huh, carl? 2013 housing market outlook this morning,
the winner, the fiscal cliff, 35%. what are people saying about the fiscal cliff? we have people write in, and i believe that's what we'll look at next. we'll look at the probability of a u.s. recession. that has come up. in part because of the fiscal cliff concerns. it was 19% back in march. a high of 36%. so we're halfway between the low and the high pretty much. this is a 13-month high for the probability of recession. now we want to show you what people are saying about the fiscal cliff,...
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our fearless leader, chuck todd is here, he has the game plan for the fiscal cliff and the latest stats to back it up. >> while crystal focuses on frivolous things, like is chris christie too fat to be president? >>> could an illegal immigrant sex offender senate intern actually push congress to compromise? >> jimmy williams is here with a better idea, ban cameras from the senate floor, but he wants them turned on him instead. >> we will try anything at this point. fortunately, we are leaving the cameras here, they are kind of important. >>> we are at halftime in our fiscal cliff. yes, kornacki, i said fiscal cliff you and it is a basketball game, as each side continues its talking, stalking and posturing. >> let's get real. let's really get real about this, if we are going to have a solution and let's stay here and sit at that table and call, you know, make that charge okay, here are the president's cuts. have you seen the president's specific -- well, no, so why -- the president has been very specific. >> but here we are at the 11th hour around the president still suspect serious abou
our fearless leader, chuck todd is here, he has the game plan for the fiscal cliff and the latest stats to back it up. >> while crystal focuses on frivolous things, like is chris christie too fat to be president? >>> could an illegal immigrant sex offender senate intern actually push congress to compromise? >> jimmy williams is here with a better idea, ban cameras from the senate floor, but he wants them turned on him instead. >> we will try anything at this point....
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lisa, thanks. >>> the fiscal cliff talks have been happening. they are getting grief from some members of their own parties. does the public have a right to know what is going on behind closed doors? our strategy session is next. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. hurry in and try five succulent entrees, like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. for a professional cleansing device? join the counter revolution and switch to olay pro-x. get cleansing results as effective as a $200 system. guaranteed or your money back. olay pro-x. out for drinks, eats. i have very well fitting dentu
lisa, thanks. >>> the fiscal cliff talks have been happening. they are getting grief from some members of their own parties. does the public have a right to know what is going on behind closed doors? our strategy session is next. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams...
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and we are 20 days away from that so-called fiscal cliff. in our new nbc news/wall street journal poll just out for us today, most americans say they want compromise. joining me here for our daily fix, chris, msnbc contributor and managing editor of postpolitics.com. the fiscal cliff, the people that we polled, americans get it. they want, two-thirds of them, 65% say they want a deal to be done. they want compromises even if it means targeted entitlement cuts and tax increases. >> yeah, and i don't think we should be terribly surprised by that, andrea. the truth of the matter is over the last decade or so what we've seen is congress, really, because of redistricting and other things like that, members of congress don't tend to have to represent the middle of the country. they wind up representing their two-party bases, the people that deeply disagree. democratic base does not want entitlement cuts, republican base does not want to raise taxes. but people in general like the idea congress can get something done on something big. now, i would
and we are 20 days away from that so-called fiscal cliff. in our new nbc news/wall street journal poll just out for us today, most americans say they want compromise. joining me here for our daily fix, chris, msnbc contributor and managing editor of postpolitics.com. the fiscal cliff, the people that we polled, americans get it. they want, two-thirds of them, 65% say they want a deal to be done. they want compromises even if it means targeted entitlement cuts and tax increases. >> yeah,...
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on the brink of the fiscal cliff. when lot of the operations for social security are located in baltimore. she is out protesting. there was a big protests by workers at social security about some of the fiscal cliff discussions yesterday. roma in fairfield, california, line for independents. caller: i wanted to piggyback a little bit of what the others have said before me. i am an immigrant. akin to this country when i was very young. i'm very grateful for this country. i have lived in other countries, and this is the best country to be. having said that, when i came here it was required that i spoke english. when i go to businesses and schools and just about town all day in my regular day-to-day activities of daily living, a run into this barrier of language. in the school system, when you they say youceaddress it, just look away. it has gotten too politically incorrect. it is very hard to educate a glitch comprehending people if you have a heavy accent -- english-comprehending people if you have a heavy accent. i wo
on the brink of the fiscal cliff. when lot of the operations for social security are located in baltimore. she is out protesting. there was a big protests by workers at social security about some of the fiscal cliff discussions yesterday. roma in fairfield, california, line for independents. caller: i wanted to piggyback a little bit of what the others have said before me. i am an immigrant. akin to this country when i was very young. i'm very grateful for this country. i have lived in other...
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economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off, if we get this done. the most important thing we can do is make sure the middle class taxes do not go up january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> reporter: prediction. are you going to be able to raise taxes? yes or no? >> oh, taxes are going to go up one way or the other. >> reporter: oh, they are? >> and i think the key is to make sure the taxes go up on high end individuals like you and me, barbara. we can afford it. it is entirely possible for us to come up with a deal. but time is running short. >> reporter: the president sounded optimistic about avoiding the fiscal cliff. he said, of his meeting with speaker boehner, "i think the tone was good. i believe both speaker boehner and myself a
economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off, if we get this done. the most important thing we can do is make sure the middle class taxes do not go up january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts...
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. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a notebook. averaging 15 applications a day, at age 54, this is the first time she's ever been on unemployment. she's emptied out her 401(k), savings and the last resort, emergency federal jobless program kept her in her town home giving her $454 a week. december 29th, unless congress and the white house act the money stops. >> we're not trying to live off the system. we're trying to survive. it's not a luxury to be on unemployment. it's a means to keep us going. >> reporter: the fear of the fiscal cliff isn't just cheer in the suburban neighborhood. in the states with the highest unemployment from the west to the north to the south, they will be hit the hardest. some 2 mill
. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a notebook. averaging 15 applications a day, at age 54, this is the first time she's ever been on unemployment....
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and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the trillions the fed eds pumped into economy, bernanke called the inflation tame, for now, projected 2%. elleelley: if the chairman of the fed is worried about the fiscal cliff there is nothing today that would have cheered ram up. a are less than two weeks away from the traditional prngressional holiday break, and noe republican speaker of the house and president obama seem no closer to a budget deal. as you know, if they don't come up with a spending compromise, most americans will see a hefty tax increase automatically on january 1. major garrett is covering for us at the white house tonight. major? h rep
and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the trillions the fed eds pumped into...
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we're talking about the fiscal cliff. the president campaigned around this country, and he said i have got a balanced plan, and that balanced plan is going to have so much in spending cuts and so much in tax increases, it needs to be balanced, and you republicans, we have got to have more tax increases, our country needs to get itself on a sound financial path, and i have got a deficit reduction plan. and he ran an ad, he ran an ad in the last months of this campaign that said i have a plan to pay down the debt. earlier this year his budget director came before the committee and would not disavow the claim the president has a plan to pay down the debt. and i would just say that that is one of the greatest financial misrepresentations ever, that the president of the united states would tell the american people don't worry, elect me, i've got a plan to pay down the debt. when he has no such plan. nothing close to it. under the score of the congressional budget office, over the next ten years we will add almost $9 trillion -
we're talking about the fiscal cliff. the president campaigned around this country, and he said i have got a balanced plan, and that balanced plan is going to have so much in spending cuts and so much in tax increases, it needs to be balanced, and you republicans, we have got to have more tax increases, our country needs to get itself on a sound financial path, and i have got a deficit reduction plan. and he ran an ad, he ran an ad in the last months of this campaign that said i have a plan to...
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>>> but we begin with the latest on the fiscal cliff. republicans made another counteroffer but it's reportedly not much different from their first offer. though we don't have specifics, we do know the president and john boehner talked on the phone last night and that call, according to a republican familiar with it, was tense and lasted just 15 minutes. i want to bring in real clear politics reporter aaron mcpike and david hawkings, editor of the cq roll call daily briefing. good morning. so president obama sat down with barbara walters last night. here's what he said. >> most important thing we can do is make sure the middle class taxes do not go up on january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> so he's confident. is it almost a foregone conclusion, do you think, david, that this is going to be the first piece of the puzzle that falls into place? >> i'm pretty confident that that's going to have to be the first piece of the pu
>>> but we begin with the latest on the fiscal cliff. republicans made another counteroffer but it's reportedly not much different from their first offer. though we don't have specifics, we do know the president and john boehner talked on the phone last night and that call, according to a republican familiar with it, was tense and lasted just 15 minutes. i want to bring in real clear politics reporter aaron mcpike and david hawkings, editor of the cq roll call daily briefing. good...
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despite all the gloom the president said he remains confident a fiscal cliff deal will get done. charlie and norah? >> major garrett thank you. nancy pelosi leads the democratseads in the house of representatives. we're pleased to have her with this m us.good good morning. >> good morning. >> where are these negotiations? when they were bargaining over the grand bargain you gave the the president and your caucus did cus d room to go in there and negotiate. he has that i assume, again, sosume he can put spending cuts and cuts and entitlement cuts on the table.he presi >> the president knows our views, sha views, shares our values. we respect his leadership and there's a recognition that he he may need our votes.e's n >> but there's no red line for you and the democrats in the use. house. you want the president to make a deal and deal and lay out what he can do.do. >> that is true. t however, we want what happens toe of the be fair and to work.e and one of the things we object to is raising the medicare age. red >> it's not a red line for you?g that >> it's something that says don'
despite all the gloom the president said he remains confident a fiscal cliff deal will get done. charlie and norah? >> major garrett thank you. nancy pelosi leads the democratseads in the house of representatives. we're pleased to have her with this m us.good good morning. >> good morning. >> where are these negotiations? when they were bargaining over the grand bargain you gave the the president and your caucus did cus d room to go in there and negotiate. he has that i...
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fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer americans could receive drug abuse treatment and $700 million slashed from the epa budget. cutting back of food inspection. disaster relief, omb says, quote, the federal emergency management administration's ability to respond would be undermined. and finally, from border patrol to hiring new fbi agents, correction officers, federal prosecutors, all could be scaled back. now, all of these cuts, brooke, don't happen exactly at 12:01 a.m. on january 2nd. they happen over the course of a year. but agencies are preparing for an impasse in w
fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer...
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Dec 11, 2012
12/12
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what's exposed this rift is the fiscal cliff, the united states faces this january 1st. the hard righters are attacking any sign of compromise as a white flag of retreat. who is going to ge could out the winner in this fight? the people who make money pulling conservatives to the hard right or the people who believe conservative office holders like liberal office holders have a real stake in making the government work. a far bigger question, will the war on the right help the country unite and avoid the fiscal cliff or will it give the right a chance to bring the house down. with me is ron reagan and dana milbank of the "washington post." there's been a new offer, unclear so far, put forward by the gop to the white house regarding the fiscal cliff. at this time nbc cannot confirm any specific details within the offer. it was sent over this afternoon. speaker boehner's spokesman said, quote, we sent the white house a counteroffer that would achieve tax and entitlement reform to solve our looming debt crisis and create more american jobs. that's all we know. dana milbank,
what's exposed this rift is the fiscal cliff, the united states faces this january 1st. the hard righters are attacking any sign of compromise as a white flag of retreat. who is going to ge could out the winner in this fight? the people who make money pulling conservatives to the hard right or the people who believe conservative office holders like liberal office holders have a real stake in making the government work. a far bigger question, will the war on the right help the country unite and...
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Dec 13, 2012
12/12
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it's an issue in this fiscal cliff fight. particularly if we go over the cliff and it turns into a pr battle. it's a problem longer-term, 2014, 2016. the party has to find a way to remake what people think of it and they're not there yet. >> and when you look, mark, at the optimism, pessimism, you find that people who are evenly divided, 48-48, as to whether there will be an agreement, they really want an agreement, though? >> this is a pessimistic are but a realistic public right now, and it's the public that watched what happened in 2011 during the debt ceiling standoff there. it was really interesting. we actually asked the question in december of 2008 after barack obama won his first presidential contest, and at that time 52% actually said we think the next congress is going to be an era of unity and willingness to compromise in congress. now when we ask that xwe, the newest poll, 69% actually are predicting disunity, division, and so this is a much more realistic public right now that is seeing everything that's going on
it's an issue in this fiscal cliff fight. particularly if we go over the cliff and it turns into a pr battle. it's a problem longer-term, 2014, 2016. the party has to find a way to remake what people think of it and they're not there yet. >> and when you look, mark, at the optimism, pessimism, you find that people who are evenly divided, 48-48, as to whether there will be an agreement, they really want an agreement, though? >> this is a pessimistic are but a realistic public right...
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Dec 12, 2012
12/12
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back to the fiscal cliff. we're less than three weeks now from the 1-2 punch of tax increases and government spending cuts. president obama, house speaker john boehner held another phone call last night. here is speaker boehner on that. >> there were some offers that were exchanged back and forth yesterday. and the president and i had a pretty frank conversation about just how far apart we are. >> as we mentioned just last hour, take a look at the graph, these two sides have moved closer on taxes over the last couple of weeks. speaker boehner offered up $800 billion in new tax revenues after insisting on none. the president just this week, he's come down a little bit to $1.4 trillion but still no dice. no deal. cnn's sandra endo is standing by at reagan national airport, across the potomac from washington. so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is c
back to the fiscal cliff. we're less than three weeks now from the 1-2 punch of tax increases and government spending cuts. president obama, house speaker john boehner held another phone call last night. here is speaker boehner on that. >> there were some offers that were exchanged back and forth yesterday. and the president and i had a pretty frank conversation about just how far apart we are. >> as we mentioned just last hour, take a look at the graph, these two sides have moved...
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Dec 12, 2012
12/12
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they say obviously the end of the year there's a pressure point with the fiscal cliff. they see the next pressure point being february with the debt limit to try to get some serious spending cuts and go after the big three entitlements to get what they want which is to lower deficit through spending cuts. >> let's go to mcconnell. he's not a popular guy anywhere. least of all right here. but let me ask you this. is he stupid? he's not a stupid man. why would he say he would stop the government, have us risk another lowered credit rating in order to cut programs which are essential to so many people like social security and medicare? >> to throw the debt ceiling thing out there might be popular among some republican office holders in the city. i don't think it's really popular beyond that. what he said is a complete misrepresentation because after all raising the debt ceiling is to pay for what congress has already authorized. pay the bills that congress has already incurred. i don't think this is a fight you really want to have with president obama. he -- as a point of
they say obviously the end of the year there's a pressure point with the fiscal cliff. they see the next pressure point being february with the debt limit to try to get some serious spending cuts and go after the big three entitlements to get what they want which is to lower deficit through spending cuts. >> let's go to mcconnell. he's not a popular guy anywhere. least of all right here. but let me ask you this. is he stupid? he's not a stupid man. why would he say he would stop the...